WTI – Buy Setup Off RRL Profits Again (4hr chart)
We suggested last week and the week before to remain buyers off the role reversal level at 58.45 as we felt this would offer a good risk:reward with trend setup. At the end of last week WTI Oil hit this level again where bids stepped in heavily showing their interest again here.
Congrats to the members who profited from this trade as you’d be up almost +200 points now.
ST we are in a corrective phase between 58.45 and 61.75 so play the range with a bullish trend bias for now. Only a daily close below the role reversal level negates our bullish bias. Beyond 61.75 and 62.50 puts 63.89 into focus.
